Barclays and Macquarie to help fund London wind farm work

 
Marion Dakers
THE WORLD’S biggest offshore wind farm came a step closer to completion yesterday as an array of engineers and financiers were picked to fund and run the power lines linking the site to land.

Blue Transmission, a consortium made up of Macquarie, a Barclays infrastructure fund, Mitsubishi and Frontier Power, have preferred bidder status to own and operate the high voltage link for the London Array wind farm.

The £428m first phase of the project in the Thames estuary will have a capacity of 630MW once it is finished at the end of the year.

Power watchdog Ofgem said the appointment of Blue Transmission “is a significant milestone for the offshore regime”.

The London Array project is owned by Dong Energy, E.ON and Masdar. It will generate enough power for up to a quarter of Greater London’s homes upon completion.